How to use the First Salary Budget Planner
- 1. Enter your in-hand salaryThe amount that reaches your bank each month.
- 2. Add your monthly costsRent, food, travel, EMI and money sent home.
- 3. Set a savings targetSee what is left for you and your emergency fund goal.
A simple plan for the first salary
Pay for needs first: rent, food, travel and any EMI. Then move your savings to a separate account on salary day, before you spend. What is left is yours to spend without guilt. A common rule of thumb is about half for needs, a fifth for savings and the rest for wants, but your city and rent decide what is realistic.
Example: ₹30,000 in hand with ₹17,000 of needs and a 20% target (₹6,000) leaves ₹7,000 for personal spending.
Emergency fund before investing
Keep about six months of needs in a savings account or liquid fund before you invest elsewhere. Once it is in place, a monthly SIP builds wealth slowly. Use the step-up SIP calculator to see how raising the SIP with each hike grows the total.
Reading the result
If the result says you are short every month, cut the largest need first, usually rent, by sharing a flat or moving a little further out. If you have money left, raise the savings target slowly rather than spending it all. Review the plan after every hike, because costs tend to rise with income. Track the first two or three months closely, then automate the savings on salary day so you do not have to think about it.
Frequently asked questions
How much of my first salary should I save?
Start with 10 to 20% and raise it with each hike. Saving something every month matters more than the exact share.
What is an emergency fund?
Money kept aside for job loss or medical needs, usually six months of essential costs.
Is this planner free?
Yes. It asks for your name and WhatsApp number once, at result time, and other Uncodemy tools then open without the form.